to date.Here on the chart I highlight the PERFECT trade of the day for me that I didn't take. I just watched it. This was my ultimate set-up and I just sat there numbly! Ha. Starting at 3:24pm ( right chart is the 3-min), POT was a significant distance from the mean, was putting up high volume at an increasing rate, and was showing a stalled price in the candle. That was an absolute SCREAMING indication of reversal. The tale of the tape: low of $84.22 and a high of $85.53 about 12 minutes later. Total of $1.31 per share available.
That missed trade is the difference between doing this as a hobby and doing it for a living.
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10 for 18, a 56% win rate. Gain of $321 in 6.5 hours of live trading.
congrats, nice take. i think missed trades (by not entering) and not letting winners run are based on "trading not to lose". To have $1K winning days with small positions means you may have to take a $500 hit on a day like every other month, or have a couple week losing streak. this is what i'm struggling with. i want to avoid a draw down or other losses that fear is preventing me take the risk that is necessary for a bigger gains or catching more winning trades. the other half for me, is just in-the moment anxiety, the same nervous one may get with public speaking.
ReplyDeletenice photos. the one on the bike, made me think i have to remember not to ever mess with you.
Thanks Charlie. Hmmm, "trading not to lose..," yeah, that makes sense. Adjusting to the fact that losers are a part of the game is difficult, to say the least. I'm with you... I hate the thought of a drawdown. I had a loss with my real account on July 2nd and it still pisses me off. But, as you say, maybe one must expect the big loss now and then in order to be taking the risks necessary to get the bigger wins. I can't say for sure; haven't been at this long enough to have the proper perspective.
ReplyDeleteIn any event... you're certainly doing well right now. It's good to see folks get ahead.